World Economy

China Mutual Funds at $844b

China Mutual Funds at $844bChina Mutual Funds at $844b

The China Securities Regulatory Commission (CSRC) announced that total assets under management of China’s mutual funds reached a record high of Rmb5.24tr ($844.39b) as of the end of March, Asia First reported. The number of fund launches also reached a fresh high of 51 in Q1, the CSRC data showed. Based on the latest figures released by the CSRC, China’s mutual funds soared by 15% in Q1 from Rmb4.54tr ($732b) at the end of last year, thanks to the recent bullish run in the A-shares market. As of 31 March, there was an aggregate of 2,027 mutual funds being traded in China, the CSRC data showed.